July 2, 2022 – In the Hype Cycle for Privacy, 2021, Gartner recognized Prime Factors among Sample Vendors in Privacy, a space that is a top priority for security and risk management leaders managing technology, information and resilience risk.

Prime Factors Recognized in 2021 Gartner® Hype Cycle™ for Privacy

July 2, 2022

In the Hype Cycle for Privacy, 2021, Gartner recognized Prime Factors among Sample Vendors in Privacy, a space that is a top priority for security and risk management leaders managing technology, information and resilience risk. For Format-Preserving Encryption Gartner states, “adoption is increasing due to the fast-growing need to provide data protection and privacy, in compliance with legislation such as General Data Protection Regulation (GDPR).”

In this report Gartner predicts, “by year-end 2023, 75% of the world’s population will have its personal data covered under modern privacy regulations, up from 25% today.”

“We feel that data privacy should be a fundamental human right,” said Justin Teitt, chief operating officer of Prime Factors, “but often the complexities associated with modern data privacy make it impractical for many companies to implement. Furthermore, protecting privacy consistently across all the places personal data is used, moved and stored can be equally challenging. For the market to deliver on the vision for strict enforcement of data privacy, solutions must be easy to implement and manage. And, unlike traditional encryption, modern solutions for enforcing privacy must be able to intermix a variety of data protection functionality to meet the stringent goals of data privacy.”

As the generation and collection of data, as well as the requirements for privacy compliance continue to expand, so too will the complexity of protecting sensitive data. Gartner in this report suggests “proactive risk reduction can be achieved through competent data life cycle governance and pseudonymization techniques, such as encryption, masking and tokenization.”

According to Gartner, “The ability to mix the implementation of FPE (format-preserving encryption) with data masking is also increasing its dynamic adoption for different use cases.” The report goes on to recommend that users “Deploy FPE to implement policy rules for user access in coordination with other security controls, according to Gartner’s data security governance (DSG) framework.”

“We understand that the simplification of protecting data privacy is no small task, and Prime Factors is pleased to see Gartner research that continues to delve into this complex subject matter, which we believe will help clients think through the complexities of data privacy,” said Henry Cheli, CEO of Prime Factors. “We’re honored to be listed as a Sample Vendor by Gartner, and we remain committed to delivering solutions that help simplify enforcing data privacy.”

Gartner clients can access the full report here.

*Gartner, “Hype Cycle for Privacy, 2021”, Bart Willemsen, July 13, 2021.

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About Prime Factors
Prime Factors is a global leader in applied data protection software, helping to secure an open and collaborative digital world. Data has never been more plentiful or more valuable, and the protection of sensitive data has never been more complex. With a focus on application-level data protection, software solutions from Prime Factors help to simplify the complexities associated with protecting sensitive information where it is most at risk. For 40 years, Prime Factors has served more than 1,000 customers across six continents in a variety of industries, including 80% of the top financial institutions in North America, with cryptographic software solutions for payments, information exchange, and general data protection. http://www.primefactors.com Follow us on LinkedIn or Twitter.

About EncryptRIGHT®
Leveraging a Data Security Governance approach, EncryptRIGHT defines and enforces how data is protected, who can access secure data, and what form the data takes when access is granted. In a single code base, EncryptRIGHT combines a variety of different security techniques, including encryption, hashing, digital signing, redaction masking, tokenization and dynamic data masking, along with role-based access controls, and audit logging and reporting, to robustly define and enforce data privacy. By abstracting data protection policies from application programming, EncryptRIGHT delivers application-native data protection in just a few lines of code – significantly simplifying the enforcement of data protection in a way that drastically reduces implementation times, while enforcing a complete separation of duties between information security and application programming. EncryptRIGHT delivers application-level data protection, simplified.